Widespread export enquiries, especially from CIS countries and other destinations, have lifted prices of orthodox leaf tea at the Kochi auctions this week.
There was a strong demand in Sale 27, with 92 per cent of the 3,57,732 kg offered sold.
The market for Nilgiri broken and whole leaf was firm to dearer by ₹3-7. The average price realisation also went up to touch ₹149.5 as against the ₹138.41 quoted last week. Medium tippy grades witnessed strong features and appreciated with longer margins of ₹5-10, according to the auctioneers, Forbes, Ewart & Figgis.
CTC leaf saw strong demand as well, with 97 per cent of the 88,500 kg offered sold. The market for brokens and Fannings was dearer by ₹3-5 and more following quality. Major blenders and upcountry buyers were active, while Kerala buyers lent fair support.
The demand was good for CTC dust varieties, with the market for PD, RD and SRD grades seeing strong features and appreciating by ₹3-7. Finer grades were firm to dearer by ₹1-3 following quality. The average price realisation was also up at ₹109.78 against the ₹106.46 in the previous week. The quantity offered was 9,28,873 kg.
Blenders were active on good liquorings, while there was a robust demand from upcountry buyers. Kerala Loose tea traders operated hand-to-mouth.
The market for orthodox dust barely remained steady. The quantity offered was 9,500 kg and a small quantity offered was absorbed by exporters.